LAS VEGAS, Aug. 26 /PRNewswire-FirstCall/ -- Gaming Partners
International Corporation (Nasdaq: GPIC), a worldwide leader of
casino currency and table games equipment, announced that it has
entered into an RFID License and Transfer Agreement with
International Game Technology (NYSE: IGT) covering certain
high-frequency RFID rights and products including software related
to a Chip Inventory System ("CIS"), a newly developed communication
platform to integrate RFID data into a variety of casino management
systems and a license to certain other RFID related
intellectual property and assets.
As a result of the agreement, GPI has acquired the ability to
develop, manufacture and distribute additional high-frequency RFID
products and systems worldwide. Together IGT and GPI will provide
for transition of sales, support and service of IGT's current
high-frequency RFID customers.
Casinos worldwide continue to increase their desire for RFID
technology in both low (1.25 KHz) and high (13.56 MHz) frequencies.
Previously, GPI held rights and licenses for low-frequency RFID
products and software systems, as well as limited rights for
high-frequency products. This transaction, which provides GPI
access to certain RFID related intellectual property for the 13.56
MHz Phase Jitter Modulation technology and the rights to
IGT's CIS, will enable GPI to converge RFID applications for the
two frequencies and add improved functionality, security and
communications with a range of casino systems.
GPI's low-frequency and IGT's high-frequency systems have been
the most widely implemented chip tracking technology in the
marketplace. Both employ RFID-based capabilities to provide casino
operators with the tools necessary to maintain an accurate
real-time inventory of the entire stock of chips, and securely and
efficiently transfer gaming chips to each table across the casino
floor into the cage areas and all validation points.
Subsequent to this transaction, GPI's customers will now have
a larger array of RFID options and solutions.
"Our leadership in gaming currency and RFID products makes GPI
the logical choice for unifying these technologies," GPI President
and CEO Greg Gronau commented. "This
acquisition will aid in the expansion of our opportunities in RFID
systems both in terms of sales or RFID hardware and the licensing
of software. This will allow our customers to better secure its
currency, authenticate chips, gather other data at the table and
cage, while linking with a casino's backend system. We have a
strong relationship with IGT and will be working closely with them
to provide our customers with a smooth transition," Gronau
concluded.
"This transaction will allow our mutual customers to enjoy the
technological and creative benefits that will undoubtedly arise
from uniting disparate pools of RFID technology under a pit-focused
organization like GPI," states Javier
Saenz, VP Network Systems. "IGT is committed to
serving its customers not only directly with its own market-leading
products but also through third-party relationships with companies
like GPI."
About Gaming Partners International Corporation
GPIC manufactures and supplies (under the brand names of
Paulson®, Bourgogne et Grasset® and Bud Jones®) casino chips, including
plaques and jetons and low frequency and high frequency RFID chips,
low and high frequency RFID readers, table layouts, playing cards,
table accessories, gaming furniture, dice, roulette wheels, and
other products that are used with casino table games such as
blackjack, poker, baccarat, craps, and roulette. GPIC is
headquartered in Las Vegas,
Nevada, with offices in Beaune, France; San Luis Rio
Colorado, Mexico; Atlantic City,
New Jersey; and Gulfport,
Mississippi. GPIC sells its casino products directly to
licensed casinos throughout the world. For additional information
about GPIC, visit our web site at www.gpigaming.com.
About IGT
International Game Technology (NYSE: IGT) is a leader in the
design, development and manufacture of gaming machines and systems
products worldwide. More information about IGT is available at
www.IGT.com.
Safe Harbor Statement
This release contains "forward-looking statements" based on
current expectations but involving known and unknown risks and
uncertainties, such as statements relating to anticipated future
sales or the timing thereof; the long-term growth and prospects of
our business or any jurisdiction; the duration or effects of
unfavorable economic conditions which may reduce our product sales;
and the long term potential of the RFID gaming chips market and the
ability of Gaming Partners International to capitalize on any such
growth opportunities. Actual results or achievements may be
materially different from those expressed or implied. Gaming
Partners International's plans and objectives are based on
assumptions involving judgments with respect to future economic,
competitive and market conditions, the timing and its ability to
consummate, acquisitions, and future business decisions and other
risks and uncertainties identified in Part I-Item 1A, "Risk
Factors" of the Company's Form 10-K for the period ended
December 31, 2009, all of which are
difficult or impossible to predict accurately and many of which are
beyond its control. Therefore, there can be no assurance that any
forward-looking statement will prove to be accurate.
SOURCE International Game Technology
Copyright . 26 PR Newswire